As the economy changes, so does the number of people who apply to vocational schools in order to become auto repair mechanics. It is estimated that the majority of Gen Z high school graduates will enter trade school after graduation, and the same estimation argues that many will be interested in car repair as a career choice. For repair shop business owners, this means an entire generation’s worth of fresh hands will soon start working on a tune-up, a new car inspection, or any other diagnostic that every car needs at some point in its life on the road.
This influx of younger workers also correlates with a greater potential for accidents to happen within the repair facility. Even in the longest-running, most trusted businesses, the potential for accident still exists. That is why it is so important for repair shops to obtain repair insurance or any other insurance plan they might need for continued peace of mind and shop dependability. Not only will this ensure that mechanical breakdowns, employee dishonesty, or bodily injury will be covered, but it will also ensure that you have the competitive advantage you need to stay in the auto repair business for a long time.
More About Auto Repair Insurance
Auto repair insurance covers service centers if they are found to be at fault for an accident that causes damage to a third party, customer, their property, or their emotional state. Because insurance claims far exceed repair costs in most cases, shops use this type of insurance to cover repairs they need to make as well as other legal fees they need to pay when liability claims are made. Many small businesses cannot afford huge payments up front, so making small payments toward a comprehensive coverage plan allows you to pay less in one lump sum should an accident ever occur.
Common liability insurance claims include:
- breaches of security regarding credit card or personal information, otherwise known as cyber liability coverage
- recalls or factory warranty claims for products you’ve provided
- coverage of rental cars while your customers have their vehicles fixed
- personal or non-physical injury coverage for customers
- bodily injury and its resulting medical bills.
It must be clarified, however, that this type of insurance does not cover natural disasters and their resulting damage, any additional coverage of employees or equipment, mechanical breakdown insurance for company cars, repair coverage for company cars, major repairs to rented buildings, or car warranty denial for company cars. Not to fear – there is a solution to this problem if you are in need of insurance policies such as these. By getting your free quote with Small Business Liability, you’ll see how much you can save on insurance coverage when you bundle your auto insurance policies together through one insurance provider.
For great car repair insurance and protection plans for auto body shops at a low rate, contact one of the licensed insurance agents at Small Business Liability for more information. Our plans provide comprehensive coverage and they do the dirty work of legal coverage for you. Don’t settle for expensive insurance products that don’t fit in with the demands and the risks associated with the work you do – call us today and see how we can improve your business and help you excel at company risk management.